FAME
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 2 days after the deadline Filed on 2 February 2026, deadline 31 January 2026 (7 months after the close on 30 June 2025, Companies Code art. 3:10). Source: NBB, 2026-00027001.
Annual accounts 2025 filed on 02-02-2026 PDF all 36 filings
Turnover
≈ €310,000
Estimated: probably between €260,000 and €370,000
Total assets
€150,439▼ 3.0%
2024 · €155,043
Net result
-€19,481▼ 51.4%
2024 · -€12,868
Working capital
-€33,829▼ 39.4%
2024 · -€24,264
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€18,749
▼ 57.4%
2025
20192025
Net result
-€19,481
▼ 51.4%
2025
lowest quarter of the sector
20192025
Equity
-€21,752
▼ 858%
2025
lowest quarter of the sector
20192025
Total assets
€150,439
▼ 3.0%
2025
middle half of the sector
20192025
Debt
€172,191
▲ 9.5%
2025
20192025
Working capital
-€33,829
▼ 39.4%
2025
lowest quarter of the sector
20192025
Solvency
-14.5%
▼ 13.0pp
2025
lowest quarter of the sector
20192025
Current ratio
0.78
▼ 0.05
2025
middle half of the sector
20192025
Return on assets (ROA)
-12.9%
▼ 4.6pp
2025
lowest quarter of the sector
20192025
Staff (FTE)
2.9
▼ 17.1%
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€189,789--€17,529-€26,453▼ 50.9%€27,731€25,388▼ 8.4%-€11,913-€18,749▼ 57.4%
Net result€153,678--€18,108below the sector's middle half-€26,946below the sector's middle half▼ 48.8%€26,989above the sector's middle half€24,229above the sector's middle half▼ 10.2%-€12,868below the sector's middle half-€19,481below the sector's middle half▼ 51.4%
Equity€4,433--€13,675below the sector's middle half-€40,621below the sector's middle half▼ 197%-€13,633below the sector's middle half▲ 66.4%€10,596within the sector's middle half-€2,272within the sector's middle half-€21,752below the sector's middle half▼ 858%
Total assets€129,744-€85,389within the sector's middle half▼ 34.2%€76,216within the sector's middle half▼ 10.7%€125,296within the sector's middle half▲ 64.4%€161,066within the sector's middle half▲ 28.5%€155,043within the sector's middle half▼ 3.7%€150,439within the sector's middle half▼ 3.0%
Debt€125,311-€99,064▼ 20.9%€116,837▲ 17.9%€138,929▲ 18.9%€150,470▲ 8.3%€157,315▲ 4.5%€172,191▲ 9.5%
Working capital-€18,022--€21,941within the sector's middle half▼ 21.7%-€35,068below the sector's middle half▼ 59.8%-€23,295within the sector's middle half▲ 33.6%-€17,900within the sector's middle half▲ 23.2%-€24,264within the sector's middle half▼ 35.6%-€33,829below the sector's middle half▼ 39.4%
Solvency3.4%--16.0%below the sector's middle half▼ 19.4pp-53.3%below the sector's middle half▼ 37.3pp-10.9%below the sector's middle half▲ 42.4pp6.6%within the sector's middle half▲ 17.5pp-1.5%within the sector's middle half▼ 8.0pp-14.5%below the sector's middle half▼ 13.0pp
Current ratio0.70-0.36below the sector's middle half▼ 0.350.32below the sector's middle half▼ 0.030.74within the sector's middle half▲ 0.420.86within the sector's middle half▲ 0.120.82within the sector's middle half▼ 0.040.78within the sector's middle half▼ 0.05
Return on assets (ROA)118.4%--21.2%below the sector's middle half▼ 139.7pp-35.4%below the sector's middle half▼ 14.1pp21.5%above the sector's middle half▲ 56.9pp15.0%within the sector's middle half▼ 6.5pp-8.3%below the sector's middle half▼ 23.3pp-12.9%below the sector's middle half▼ 4.6pp
Staff (FTE)0.9-0.51.9▲ 280%3.1▲ 63.2%3.5▲ 12.9%2.9▼ 17.1%
above
within
below
The sector band is the middle half of the companies in Food and beverage service activities (NACE 56). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €18,749, larger than the loss of €11,913 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €150,439
Fixed assets
€33,327 ▼ 22.9%
Current assets
€117,112 ▲ 4.8%
Equity and liabilities
Equity-€21,752
Debt€172,191
Equity is negative. Debt (€172,191) exceeds the balance-sheet total (€150,439).
Key figures and ratios
EBITDA
-€8,833▼
2024 · -€793
Cash flow
-€9,565▼
2024 · -€1,747
Quick ratio
0.74▼
2024 · 0.79
Interest coverage
-14.71▼
2024 · -0.97
Debt ≤ 1 year
€150,941▲
2024 · €136,064
Debt > 1 year
€21,250=
2024 · €21,250
Income taxes
€142▲
2024 · €134
Staff costs
€114,031▲
2024 · €104,306
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 8 | 5 | - |
| full-time | 1 | 8 | 5 | - |
| in full-time equivalents | 1 | 8 | 5 | - |
| Average over the year, in full-time equivalents | 1.9 | 3.1 | 3.5 | 2.9 |
| On a permanent contract | 1 | - | - | - |
| Joined | 20 | 31 | 28 | 29 |
| Left | 21 | 24 | 26 | 29 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €7,717 | €4,127 | €1,426 | - |
| Financial fixed assets | - | - | €1,446 | - |
| Depreciation and write-downs of the year | €9,009 | €10,791 | €11,121 | €9,916 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €48,392 | €62,504 | €104,306 | €114,031 | ▲ 9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,827 | €14,849 | €6,268 | €9,009 | €10,791 | €11,121 | €9,916 | ▼ 10.8% |
| Other operating charges640/8 | - | - | - | €280 | €248 | €850 | €581 | ▼ 31.6% |
| Non-recurring operating charges66A | - | - | - | - | €546 | €1,510 | - | - |
| Gross operating margin9900 | €223,895 | -€1,908 | -€2,906 | €85,411 | €99,477 | €105,874 | €105,779 | ▼ 0.1% |
| Operating profit (loss)9901 | €189,789 | -€17,529 | -€26,453 | €27,731 | €25,388 | -€11,913 | -€18,749 | ▼ 57.4% |
| Financial income75/76B | - | - | - | €2 | €38 | €0 | €11 | ▲ 31× |
| Recurring financial income75 | €0 | €1 | - | €2 | €38 | €0 | €11 | ▲ 31× |
| Financial charges65/66B | - | - | - | €682 | €908 | €821 | €600 | ▼ 26.8% |
| Recurring financial charges65 | €400 | €176 | €131 | €682 | €908 | €821 | €600 | ▼ 26.8% |
| Profit (loss) for the period before taxes9903 | €189,390 | -€17,705 | -€26,585 | €27,051 | €24,517 | -€12,734 | -€19,339 | ▼ 51.9% |
| Income taxes67/77 | €35,711 | €404 | €361 | €62 | €289 | €134 | €142 | ▲ 5.7% |
| Profit (loss) for the period9904 | €153,678 | -€18,108 | -€26,946 | €26,989 | €24,229 | -€12,868 | -€19,481 | ▼ 51.4% |
| Profit (loss) for the period to be appropriated9905 | €153,678 | -€18,108 | -€26,946 | €26,989 | €24,229 | -€12,868 | -€19,481 | ▼ 51.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €129,744 | €85,389 | €76,216 | €125,296 | €161,066 | €155,043 | €150,439 | ▼ 3.0% |
| Fixed assets21/28 | €87,455 | €73,266 | €59,447 | €58,155 | €51,491 | €43,242 | €33,327 | ▼ 22.9% |
| Intangible fixed assets21 | €28,500 | €25,500 | €22,500 | €19,500 | €16,500 | €13,500 | €10,500 | ▼ 22.2% |
| Tangible fixed assets22/27 | €52,949 | €41,760 | €30,941 | €32,649 | €28,985 | €22,290 | €15,375 | ▼ 31.0% |
| Plant, machinery and equipment23 | - | - | - | €18,704 | €19,510 | €17,170 | €13,378 | ▼ 22.1% |
| Furniture and vehicles24 | - | - | - | €13,945 | €9,475 | €5,120 | €1,996 | ▼ 61.0% |
| Financial fixed assets28 | €6,006 | €6,006 | €6,006 | €6,006 | €6,006 | €7,452 | €7,452 | = |
| Current assets29/58 | €42,289 | €12,123 | €16,769 | €67,141 | €109,576 | €111,801 | €117,112 | ▲ 4.8% |
| Stocks and contracts in progress3 | €1,757 | €1,627 | €3,312 | €2,188 | €6,621 | €4,927 | €5,666 | ▲ 15.0% |
| Stocks30/36 | - | - | - | €2,188 | €6,621 | €4,927 | €5,666 | ▲ 15.0% |
| Amounts receivable within one year40/41 | €3,636 | €1,308 | €5,084 | €6,683 | €954 | €2,039 | €3,604 | ▲ 76.8% |
| Trade receivables40 | - | - | - | €6,683 | €954 | €2,039 | €3,604 | ▲ 76.8% |
| Cash at bank and in hand54/58 | €35,959 | €7,675 | €6,136 | €57,529 | €99,690 | €102,371 | €104,322 | ▲ 1.9% |
| Deferred charges and accrued income490/1 | - | - | - | €741 | €2,311 | €2,464 | €3,521 | ▲ 42.9% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €129,744 | €85,389 | €76,216 | €125,296 | €161,066 | €155,043 | €150,439 | ▼ 3.0% |
| Equity10/15 | €4,433 | -€13,675 | -€40,621 | -€13,633 | €10,596 | -€2,272 | -€21,752 | ▼ 858% |
| Contributions10/11 | €19,000 | €19,000 | - | €19,000 | €19,000 | €19,000 | €19,000 | = |
| Contributions outside capital11 | - | - | - | €19,000 | €19,000 | €19,000 | €19,000 | = |
| Other1109/19 | - | - | - | €19,000 | €19,000 | €19,000 | €19,000 | = |
| Profit (loss) carried forward14 | -€14,567 | -€32,675 | -€59,621 | -€32,633 | -€8,404 | -€21,272 | -€40,752 | ▼ 91.6% |
| Amounts payable17/49 | €125,311 | €99,064 | €116,837 | €138,929 | €150,470 | €157,315 | €172,191 | ▲ 9.5% |
| Amounts payable after more than one year17 | €65,000 | €65,000 | €65,000 | €48,492 | €22,995 | €21,250 | €21,250 | = |
| Financial debts170/4 | - | - | - | €48,492 | €22,995 | €21,250 | €21,250 | = |
| Amounts payable within one year42/48 | €60,311 | €34,064 | €51,837 | €90,436 | €127,475 | €136,064 | €150,941 | ▲ 10.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €2,538 | €2,581 | €1,745 | - | - |
| Trade debts44 | €5,656 | €2,386 | €14,379 | €14,600 | €16,596 | €11,965 | €15,205 | ▲ 27.1% |
| Suppliers440/4 | - | - | - | €14,600 | €16,596 | €11,965 | €15,205 | ▲ 27.1% |
| Advances received on contracts in progress46 | - | - | - | - | - | - | €500 | - |
| Taxes, remuneration and social security45 | - | - | - | €10,461 | €20,600 | €19,443 | €21,134 | ▲ 8.7% |
| Taxes450/3 | - | - | - | €4,949 | €8,506 | €8,270 | €9,882 | ▲ 19.5% |
| Remuneration and social security454/9 | - | - | - | €5,511 | €12,094 | €11,173 | €11,252 | ▲ 0.7% |
| Other amounts payable47/48 | - | - | - | €62,838 | €87,699 | €102,912 | €114,102 | ▲ 10.9% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €153,678 | -€18,108 | -€26,946 | €26,989 | €24,229 | -€12,868 | -€19,481 | ▼ 51.4% |
| + Depreciation and write-downs630 | €11,827 | €14,849 | €6,268 | €9,009 | €10,791 | €11,121 | €9,916 | ▼ 10.8% |
| Operating cash flow (approximation) | €165,505 | -€3,259 | -€20,678 | €35,997 | €35,020 | -€1,747 | -€9,565 | ▼ 447% |
| Investment in fixed assets (approximation) | - | -€660 | €7,551 | -€7,717 | -€4,127 | -€2,872 | €0 | - |
| Change in cash | - | -€28,284 | -€1,539 | €51,394 | €42,161 | €2,681 | €1,951 | ▼ 27.2% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 6,619 companies had the same profile as FAME has now. Two years later, 84.5% were still going and 4.5% had gone bankrupt.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
84.5%
was still going
10.0%
stopped otherwise
4.5%
went bankrupt
Another 1.0% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of FAME itself: 1.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 6,619 companies, not a prediction for FAME. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 36 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 02-02-2026 | 2026-00027001 | |
| 30-06-2024 | micro format | 31-01-2025 | 2025-00017749 | |
| 30-06-2023 | micro format | 31-01-2024 | 2024-00019834 | |
| 30-06-2022 | micro format | 31-01-2023 | 2023-00024699 | |
| 30-06-2021 | micro format | 31-01-2022 | 2022-04800201 | |
| 30-06-2020 | micro format | 18-02-2021 | 2021-05600570 | |
| 30-06-2019 | micro format | 02-12-2019 | 2019-75200420 | |
| 30-06-2018 | micro format | 22-11-2018 | 2018-72600446 | |
| 30-06-2017 | micro format | 29-11-2017 | 2017-70800086 | |
| 30-06-2015 | abbreviated format | 29-02-2016 | 2016-05400592 |